Question : It refers to a situation when demand is equal to aggregate supply beyond the full employment level. It occurs after the full employment level.
 

Question : It refers to a situation with the aggregate demand is equal to aggregate supply when the resources are not fully employed. It generally occurs prior to full employment level.
 

Question : Effective demand refers to that level of aggregate demand which becomes effective because it is equal to aggregate supply.
 

Question : _________________ refers to the situation in aggregate demand is more than the aggregate supply.
 

Question : When equilibrium level exceeds the full employment level ____ takes place.